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By Advisor Perspectives
“Having missed most of the bull market over the past nine years, a great many investors have pronounced that we are now, at last, in a bear market. I do not know. What I do know is that our companies are doing better than I could have ever hoped, their current prices seem reasonable, and their futures look very bright.”
. . . Frederick “Shad” Rowe, Greenbrier Partners, June letter
Our friend Shad goes on to write in his June letter:
As bulls and bears battle it out, stock market volatility increases, rattling our teeth and shaking our brains, we go over again and again what we are trying to do. As we have repeated ad nauseam, we attempt to invest at reasonable prices in publicly traded companies that conduct their businesses better, faster, and cheaper than their competition and whose primary motivation is to do things for rather than to their customers. We also look for that something extra that sets our companies apart. That something extra is company culture.
Read more at Advisor Perspectives.